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'Troubling' Turn for Tenet
Tenet (THC Quote) took its medicine Wednesday, putting an end a long-running federal bribe case.
The ailing hospital chain agreed to pay $21 million to end a long-running criminal case against its Alvarado Hospital Medical Center in San Diego. The company spent three years fighting through two criminal trials, both of which ended in mistrials due to hung juries, before a recent threat from government officials finally forced its hand.
Following the latest mistrial, the Office of Inspector General last week stepped in and threatened to ban Alvarado from treating Medicare patients. In response, Tenet agreed to sell or close the hospital -- and to ink an unusually tough settlement that could signal rocky negotiations ahead. ...
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